Effective immediately, Brett Summerer is the new CFO of Accel Entertainment. The announcement, made September 22, was issued by the Chicago-based supplier of slot machines. The appointment of Summerer relieves President of U.S. Gaming Mark Phelan of the additional duties of chief financial officer. However, Summerer will report directly to Accel CEO Andy Rubenstein.
Summerer comes to Accel from Verano Holdings, a provider of cannabis products. He has also held positions at Cornings, Kraft Heinz, and General Motors.
His remit at Accel will include “internal and external financial reporting, internal audit, compliance and controls, investor relations, and the company’s treasury and capital markets functions.” In addition, he will “take a prominent role in strategic planning, business development, and mergers and acquisitions.”
Summerer is a graduate of Michigan State University and holds a postgraduate degree from the Ross School of Business. Of his appointment, he said, “Accel has built a unique and resilient business model at the forefront of local gaming as a trusted partner of small businesses and local communities and has emerged as one of the largest distributed gaming operators in the country.”
Responded Rubenstein, “Brett is an accomplished finance leader who brings extensive operational and financial discipline, as well as experience in regulated industries, to the CFO role at Accel. With a proven record of driving sustainable growth across diverse industries and business models, Brett will be an integral member of the team.”
Of Phelan, Rubenstein said, “We are grateful to Mark for stepping into the acting CFO role and ensuring continuity during this transition. Mark has added a lot of value and made significant contributions to our finance function during this short transition period. His steady leadership and deep knowledge of our business have been invaluable, and we look forward to his continued contributions leading our U.S. Gaming operations.”
Accel employs 1,500 people and owns 27,000-plus video gaming terminals across 4,400 locations in 10 states. Its machines are also to be found in 20 owned and operated gaming locations and a racino.
